OpenAI files confidential IPO — race with Anthropic and profitability questions

Friends, sharing an update from AI: OpenAI has filed a confidential IPO registration statement.

What happened: the company submitted a draft registration to the SEC without disclosing share count or price.

Key facts: prior valuation near $852B, substantial funding and heavy compute spending; the company expects negative cash flow through 2030 and significant capital burn.

Context: Anthropic has already filed and shows more positive financial signals — affecting valuation benchmarks and capital access.

Risks: internal disputes and litigation could complicate the IPO.

Why it matters: whoever lists first will secure scarce capital and set the tone for the AI market in 2026.

Who do you think will win the AI IPO race?

#AI #IPO #finance #investing